HDIL sells Kurla land parcel for Rs 649.5 crore

MUMBAI: Realty developer Housing Development & Infrastructure Lld (HDIL) has sold development rights on its land parcel at Kurla in Mumbai for Rs 649.51 crore, the company said in a regulatory filing on the Bombay Stock Exchange.

HDIL sold the four acre land parcel to DK Realtor, a subsidiary of Dheeraj Realty that has already launched a residential project on this plot.

An official from Dheeraj Realty confirmed the transaction while adding that project is estimated to have total 8 lakh sq ft saleable space.

Shares of HDIL closed at Rs 70.35 on BSE, up 6.2% over Friday's close.